ACCOUNTS - Final Accounts preparation

Unaudited Financial Statements

Sixteen South Group Limited

For the Year Ended 31 December 2024

Registered number: NI673288


Sixteen South Group Limited

Company Information

Director	Colin Williams


Company secretary	Rachelle Williams


Registered number	NI673288


Registered office	9 Church View
	Holywood
	Down
	BT18 9DP


Accountants	Grant Thornton Advisors (NI) LLP
	Chartered Accountants
	12 - 15 Donegall Square West
	Belfast
	BT1 6JH


Sixteen South Group Limited

Contents

	Page
Accountants' Report	1
Balance Sheet	2
Statement of Changes in Equity	3
Notes to the Financial Statements	4 - 7

Independent Accountant's Report to the director of the unaudited financial statements of Sixteen South Group Limited for the Year Ended 31 December 2024

In order to assist you fulfil your duties under the Companies Act 2006, we have compiled the financial statements of Sixteen South Group Limited for the year ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes to the financial statements, including a summary of significant accounting policies, from the company's accounting records and from information and explanations you have given to us.

The financial statements have been prepared on the basis set out in the notes to the financial statements.

This report is made solely to the directors of Sixteen South Group Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely that we might compile the financial statements that we have been engaged to compile, report to the company's directors that we have done so and state those matters that we have agreed to state to the directors of Sixteen South Group Limited, as a body, in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Sixteen South Group Limited and its directors, as a body, for our work or for this report.

We have carried out this engagement in accordance with International Standard on Related Services 4410 (Revised) Compilation Engagements issued by the International Auditing and Assurance Standards Board (the ‘IAASB’’) and have complied with the ethical guidance laid down by the IESBA Code and Chartered Accountants Ireland relating to members undertaking the compilation of financial statements.

You have approved the financial statements for the year ended 31 December 2024 and you have acknowledged on the Balance Sheet as at 31 December 2024 your duty to ensure that Sixteen South Group Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view in accordance with the Companies Act 2006. You consider that Sixteen South Group Limited is exempt from the statutory audit requirement for the year ended 31 December 2024.

We have not been instructed to carry out an audit or review the financial statements of Sixteen South Group Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Grant Thornton Advisors (NI) LLP
Chartered Accountants 12 - 15 Donegall Square West Belfast BT1 6JH

Date: 17 September 2025

Page 1


Sixteen South Group Limited Registered number:NI673288

Balance Sheet

As at 31 December 2024

		2024		2023
Note		£		£

Fixed assets
Investments	5		21		21
			21		21
Current assets
Debtors: amounts falling due within one year	6	200		200
		200		200
Creditors: amounts falling due within one year	7	(21)		(21)
Net current assets			179		179
Total assets less current liabilities			200		200

Net assets			200		200

Capital and reserves
Called up share capital	8	200	200
		200	200

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 17 September 2025.

Colin Williams

Director

The notes on pages 4 to 7 form part of these financial statements.

Page 2


Sixteen South Group Limited

Statement of Changes in Equity

For the Year Ended 31 December 2024

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2024	200	-	200

Profit for the year	-	207,875	207,875
Dividends: Equity capital	-	(207,875)	(207,875)
At 31 December 2024	200	-	200

Statement of Changes in Equity

For the Year Ended 31 December 2023

	Called up share capital	Profit and loss account	Total equity
	£	£	£
At 1 January 2023	200	-	200

Profit for the year	-	356,209	356,209
Dividends: Equity capital	-	(356,209)	(356,209)
At 31 December 2023	200	-	200

The notes on pages 4 to 7 form part of these financial statements.

Page 3


Sixteen South Group Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

1.	General information

Sixteen South Group Limited is a private limited company limited by shares and incorporated in the United Kingdom. The registered office is 9 Church View, Holywood, Down, BT18 9DP.
The principal activity of the company is that of a holding company.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).

The financial statements are presented in Sterling (£).
The following accounting policies have been applied:

2.2

Going concern

The director has assessed that there are adequate resources to meet the ongoing costs of the business for a minimum of 12 months from the date of signing the financial statements. For this reason the financial statements have been prepared on a going concern basis which presumes the realisation of assets and liabilities in the normal course of business.

2.3

Consolidation

These financial statements contain information about the company as an individual and do not contain consolidated financial information as the parent undertaking of a group. The company has taken advantage of exemptions available to small groups not to prepare consolidated financial statements.

Page 4


Sixteen South Group Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

2.Accounting policies (continued)

2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

2.5

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5


Sixteen South Group Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

3.	Judgements in applying accounting policies and key sources of estimation uncertainty

Estimates and judgements are required when applying accounting policies. These are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The company makes estimates and assumptions concerning the future, which can involve a high degree of judgement or complexity. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below:
a) Carrying value of investments
Investment in subsidiary undertakings is measured at cost less accumulated impairment. Where there is an indication of impairment the recoverable amount is estimated and compared with the carrying amount. The estimate of recoverable amount is considered in light of the trading and balance sheet strength of the subsidiary together with the director's best estimate of future performance of the subsidiary.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

5.	Fixed asset investments

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 January 2024	21
	At 31 December 2024	21

Page 6


Sixteen South Group Limited

Notes to the Financial Statements

For the Year Ended 31 December 2024

Debtors

					2024	2023
					£	£


Called up share capital not paid	200	200
	200	200

7.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Other creditors	21	21
	21	21

8.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

200 (2023 - 200) Ordinary shares of £1.00 each	200	200

9.	Related party transactions
	The company has availed of the exemption under FRS102 section 33 which does not require disclosure of transactions entered into between any subsidiary undertaking which is wholly owned by a member of that group.

10.	Controlling party

The company is controlled by the director.

Page 7